Note(s): The dependent variable in column (1) is Capital expenditure and that in column (2) is Asset turnover. The classification of High remote working firms is based on propensity score matching analysis. The matched sample based on propensity scores is used for estimates shown in the table. The description of all variables is presented in Table 1. The standard errors are shown in parenthesis, which are clustered at the firm level. ***, ** and *denotes significance level at 1, 5 and 10% respectively

Source(s): Authors’ computations